Completion of Capital Reduction with Cash Distribution

Ålesund, 20 July 2026:

Golden Energy Offshore Services ASA ("GEOS" or the "Company"), refers to the approval by the Company’s annual general meeting on 3 June 2026 of a capital reduction by way of reducing the par value of each of the Company’s shares from NOK 8.00 to NOK 1.00, with (i) a cash distribution per share of NOK 4 (the “Cash Distribution”) and (ii) the remaining reduction amount to be transferred to “other paid-in equity” in the Company’s books.

The statutory creditor notice period for the capital reduction expired on 17 July 2026, and the Company accordingly expects to complete registration of the share capital reduction with the Norwegian Register of Business Enterprises after close of trading on 22 July 2026.

The Company will publish key information relating to the Cash Distribution, including ex-date and expected time of payment in a separate stock exchange notice today. For Norwegian tax purposes, the distribution will be regarded as repayment of paid-in capital.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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For further information, please contact:

Per Ivar Fagervoll CEO

pif@geoff.no

Mobile: +47 974 28 884